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Question
For an Intra-state sale, the CGST paid by a dealer to the Central government is ₹ 120. If the marked price of the article is ₹ 2000, the rate of GST is ______.
Options
6%
10%
12%
16.67%
Solution
For an Intra-state sale, the CGST paid by a dealer to the Central government is ₹ 120. If the marked price of the article is ₹ 2000, the rate of GST is 12%.
Explanation:
CGST paid = ₹ 120
M.P. of article ₹ 2,000
In case of intra-state sales,
CGST = SGST
And GST amount = CGST + SGST
= 120 + 120
= 240
Then, GST Rate = `"GST Amount"/"Marked Price" xx 100`
= `240/2000 xx 100`
= 12%
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